We had many types of treasury bonds, the government "postponed" the payment (with exception to physical people, but that's actually only 10%).
Argentina hasn't really grew for almost 20 years, even when the price of commodities like soy went record high. We were already on stagflation for years with twin deficit and inflation of 20% to 30% annually. Instead of reducing budget we asked money to the IMF, that was actually warranted because Trump interceded (because the old government was having authoritarian behavior and even let China put a military base in the south of our country), instead they kept pushing with the same economic program and wasting billions in reserves to keep the peso from devaluating even more.
We had the primaries (that here basically act as country wide poll since there's no competition in the parties), and the old government (that have 18 causes of corruption) won by a landslide, that made the Merval (Argentina's stock) plummet.
We will enter full on default by 2020, we need to adjust around 6% of the PIB to just be able to pay interests (probably will have to cut around 8% for 2020). It won't happen.
It was something that basically any person that knows basic economy saw coming a from a mile, but a lot of people are just totally dependent on governmental aid, it's pretty much a ticking bomb, 9 million of people are paying for 40 million, and the only thing to do is "political suicide", so we keep having crisis every 12 years.
Now the government keeps just destroying the reserves, and letting the next government to deal with payments of debt, which won't happen, and is already telling the IMF that they already have good credit with China as a way to renegotiate the debt.
Honestly, this country deserves everything bad that happens to it.